Following the announcement of the Abraham Accord with Israel earlier this month, President Sheikh Khalifa has issued a federal law abolishing a decades-old ruling regarding the boycott of Israel.
The decree comes as part of the UAE’s efforts to expand diplomatic and commercial cooperation with Israel.
Following the abolition of the Israel Boycott Law, individuals and companies in the UAE may enter into agreements with bodies or individuals residing in Israel or belonging to it by their nationality, in terms of commercial, financial operations, or any other dealings of any nature.
Based on the law, it will be permissible to enter, exchange or possess Israeli goods and products of all kinds in the UAE and trade in them.
Israel and the UAE announced an agreement on August 13 to establish full diplomatic ties, in exchange for the suspension of Israel’s planned annexation of the occupied West Bank.
The UAE-Israel agreement, known as the Abraham Accord, came in a joint call between Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu.
An Israeli-American delegation will fly on the first commercial flight from Israel to the UAE on Monday after a landmark deal between the countries, Israeli officials said on Friday.
Jared Kushner, top aide and son-in-law to US President Donald Trump, has confirmed he will be on the flight, alongside National Security Advisor Robert O’Brien.